More Chinese private funds are extending their antennas into the banking sector, and Chinese regulators are working on relevant policies. The official Shanghai securities news quoted the deputy governor of China’s central bank, Yi Gang, as saying that the government will make sure all players are treated equally.

"It is a further opening up to allow qualified private funds to set up banks. In this way, more financial products and customized services will be available for small firms and those in remote areas. We want to create an equal market for all state, private, and foreign assets to compete in the banking industry. And eventually businesses and people will enjoy convenient and efficient financial services." said Yi Gang.

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